On 6th November, the Kenya banking sector, under the umbrella body of the Kenya Bankers Association (KBA), unveiled a credit platform for Small and Medium-sized Enterprises (SMEs) called Stawi. Stawi was unveiled at the sector’s inaugural Inua Biashara Day by His Excellency President Uhuru Kenyatta.
ABC Bank participated in the inaugural Inua Biashara Day that was held at Safari Park Hotel themed “Promoting innovative finance for MSMEs”. We displayed some of the products of the SME customers we have been supporting to grow their business in different industries.
“Today, our efforts have borne fruit and I am confident we are going to restart this powerful engine of our economy. I take this opportunity to thank and also welcome our development partners to join us in finding solutions to grow our MSMEs,” President Uhuru Kenyatta said while launching the product.
The platform, christened Stawi, is an unsecured digital credit scheme which is meant to improve access to credit for MSMEs, through offering unsecured loans from between KSh30,000 to KSh250,000 with repayment periods of 1 month to 12 months, at an interest rate of nine percent per year.
Speaking during the launch, the Kenya Bankers Association (KBA) chairman Joshua Oigara said that Inua Biashara Day is a continuation of a concerted effort by the banking industry to provide solutions that support the growth and development of MSMEs with the view to ensure that Kenya’s home-grown companies remain strong and thriving entities. It is for this reason that our theme this year is “promoting innovative finance for MSMEs.
The loans are designed to accommodate MSMEs, which have for a long time been unable to access affordable credit because of their high risk nature due to lack of collateral or business plans needed to convince lenders of their creditworthiness.
Our ABC Bank Diaspora team was on tour in Qatar from 31st October to 10th November. The team met up with various Kenyan groups in an effort to reach more Kenyans living in the diaspora. The tour ended on a high note with a comedy show organized by ABC Bank and Username Investments and hosted by our re-known comedian MC Jesse.
This is the second visit to Qatar after a successful tour in 2017. The team utilized the opportunity to reinforce relations with its customers there, as well as forge new ones. The tour is part of the Bank’s plan for Diaspora engagement and partnership-building to leverage the business opportunities that the Diaspora Community can benefit from.
ABC Bank prides itself in providing distinguished financial service to Kenyans in the Diaspora, focusing not on remittances only, but on investments as well. The Bank also offers professional investment advice to customers to enable them to make informed investment decisions and enlighten them on the best investment opportunities available in Kenya.
The Tour Itinerary
||Meeting with Kenyans during FC Kenya Football tournament, Green Maasai troupe and Kenyans in Qatar Chama meeting
||Attend a church service at Religious Complex Doha
||Meeting with Qatar Airways staff at HQ Doha
||Pilots meet up in the evening at City centre
||Attend a church Fellowship at GIAM International, Doha.
||Corniche Diaspora Sacco officials meeting
||Meeting with Corniche Investments Ltd members at Business Park (Holiday Inn)
||Comedy Night at Rotana in conjunction with Username Investments and hosted by MC Jesse
||Follow up meetings at Holiday Inn Business Park Hotel
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On Tuesday, 8th October our ABC Bank team held an activation at the SSD Temple during the Dussehra festival. It was a vibrant event and our team got to interact with attendees and promote iRem, an ABC Bank money transfer service where customers can send funds from Kenya to India.
ABC Bank joined the world in marking this year’s Customer Service Week by celebrating its relationship with customers in all its branches. The Bank engaged customers and staff in a variety of exciting activities as part of its efforts in embracing this year’s Customer Service Week theme of “Beyond the Smile”. Bank staff surprised customers with tokens of appreciation at their premises to celebrate with them on their milestones on their individual journeys.
The annual week-long event was marked from 7th to 11th October. This is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis. Locally, the event is coordinated by the Institute of Customer Service of Kenya.
The week was filled with pomp and glamour for both external and internal customers where customers enjoyed goodies and fun-filled activities in our branches. The Bank took the opportunity to celebrate its customers and appreciate them for journeying with us and for their support over the years.
The Interbank games ran from 21st to 28th September at Kenya School of Monetary Studies (KSMS). ABC Bank was well represented by our team which participated in chess, table tennis and Athletics. This year, we had the highest number of participants and we are proud to have won 4 games in chess being the first time the Bank is participating in chess. We celebrate every staff member who participated in the games or turned up to support and cheer our very own.
ABC Bank Meru SME Relationship Manager James Muriithi (left) presents CEO of St. Theresa’s Mission Hospital – Kiirua Sr. Mary Agnes Nkatha (centre) and Morris Kaumbuthu (right) with a donation to support the annual charity walk aimed at aiding patients diagnosed with orthopaedic complications access surgery.
ABC Bank hosted a client dinner led by our Treasury and Eldoret Branch team held an interactive client dinner on Friday last week at Boma Inn Hotel in Eldoret. The team had an interactive evening networking with forex clients and potential customers.
On Thursday, 29th August, ABC Bank staff had the pleasure of visiting Kayole Children’s home to bid farewell to the girls as they reopened schools. They surprised them with a back to school hamper and a school fees cheque for Faith sponsored by Friends Of Kayole (FOK).
ABC Bank continues to help students reach their highest potential through education by sponsoring yet another bright student Morab Wangari Kivuti, who has been admitted to Moi University as a first year student to pursue degree of Bachelor of Travel Operations Management. Morab resides at Kayole Girls Street Children Rehabilitation Home is one of the girls the Bank has been supporting through Friends of Kayole aka FOK group.
On Saturday 10th August, part of our ABC Bank team visited Zion Children’s Home in Kasarani to deliver books and household goods. The children were really excited to get so many storybooks that will keep them very busy during the school holidays. Mercy, the Zion library prefect, was thrilled to have their library stocked. It was a fun-filled day as the kids danced and interacted with the guests. As Taylor Swift said, books train your imagination to think big and realize you can be whatever you want to be.